Tencent Music Entertainment Group Stock Price, News & Analysis

Tencent Music Entertainment Group (TME) released a Golden Melodies Research Report on Nov. 15, 2022, marking a significant analysis in the music industry. The report explores the criteria for golden melodies, revealing a playlist of 118 songs based on quality and popularity. It highlights the changing sources of these melodies, now including indie and IP music, and emphasizes their commercial value. The report addresses the industry's challenges in creating hit songs and suggests the need for a consensus on music quality and appreciation. TME aims to support artists and enhance music industry growth through these insights.

Tencent Music Entertainment Group (TME) reported its Q3 2022 financial results, showing a net profit of RMB1.09 billion (US$154 million), a 38.7% year-over-year increase. Total revenues decreased by 5.6% to RMB7.37 billion (US$1.04 billion), while online music revenues rose by 18.8% to RMB3.43 billion (US$482 million), driven by a 19.8% increase in paying users to 85.3 million. Despite challenges, TME repurchased $860 million of its stock, reflecting confidence in its future. The company continues to innovate and expand user interaction through new features and content partnerships.

Tencent Music Entertainment Group (TME) will release its unaudited financial results for Q3 2022 on November 15, 2022, before U.S. markets open. A conference call for discussing the results will follow at 6:00 A.M. ET. Investors can access the call using specified toll-free numbers. The results will likely reflect TME's performance in China's competitive online music sector, where it operates popular platforms such as QQ Music and Kuwo Music. The Company emphasizes its mission of utilizing technology to enhance music experiences.

Tencent Music Entertainment Group (TME) successfully listed its Class A shares on the Main Board of The Stock Exchange of Hong Kong on September 21, 2022. The shares, traded under the stock code '1698', are fully fungible with TME's American Depositary Shares on the NYSE. Executive Chairman Cussion Pang expressed gratitude to users, employees, partners, and investors. TME aims to enhance the role of music in lives and continue its growth in China’s digital music industry.

Tencent Music Entertainment Group (TME) announced the resignation of board member Liang Tang, effective immediately. Ms. Jeanette Kim Yum Chan has been appointed as an independent director, while Ms. Edith Manling Ngan joins the compensation committee. Tang, who served on the board for eight years, will continue as an honorary advisor. The company expressed gratitude for Tang's contributions and is optimistic about Chan's expertise in corporate law, which could enhance TME's strategic direction amidst the evolving Chinese music industry.

Tencent Music Entertainment Group (TME) announced a proposed secondary listing of its Class A ordinary shares on the Main Board of The Stock Exchange of Hong Kong Limited. The company received in-principle approval for this listing on September 14, 2022, and shares are expected to commence trading on September 21, 2022, under the stock code 1698. This move is aimed at increasing market accessibility and liquidity for its shares, which will be fully fungible with American Depositary Shares traded in New York.

Tencent Music Entertainment Group (TME) has partnered with Billboard to promote Chinese music globally. The collaboration, named the 'Chinese Music Gravity Project,' aims to highlight the impact of Chinese artists through engaging content and features. TME will leverage its platforms, including QQ Music and Kugou Music, to share Billboard's authoritative charts and music news. This partnership marks a step forward in enhancing international exposure for Chinese music and supporting local artists' global reach.

Tencent Music Entertainment Group (TME) reported Q2 2022 results with a net profit of RMB892 million (US$133 million), an 8.3% decrease year-over-year. Total revenues fell 13.8% to RMB6.91 billion (US$1.03 billion), despite a 17.6% increase in subscription revenue, reaching RMB2.11 billion (US$315 million). The number of paying users grew to 82.7 million, up 24.9% year-over-year. TME's cash balance stood at RMB25.80 billion (US$3.85 billion). The company is on track to complete its US$1 billion share buyback program by year-end.

Tencent Music Entertainment Group (TME) will release its unaudited financial results for Q2 2022 on August 15, 2022, post-U.S. market close. A conference call will follow at 8:00 PM ET for discussion of the results, with access available via multiple international dialing options. The replay of the call will be accessible until August 22, 2022. TME is China's leading online music and audio platform, featuring popular music apps like QQ Music and Kugou Music, aiming to enrich people's lives through music.